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Revenue
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
All of the Company's revenue for the three and nine months ended September 30, 2022 and 2021 was generated in the United States. The following tables summarize the Company’s revenue by line of business, customer type, and contract type (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Revenue by Line of Business
Asset management$9,391 $8,031 $20,926 $17,181 
Property management2,5081,6916,8315,033
Parking management9144422,2541,114
Total revenue$12,813 $10,164 $30,011 $23,328 
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Revenue by Customer Type
Related party$12,549 $10,110 $29,477 $23,203 
Commercial264 54 534 125 
Total revenue$12,813 $10,164 $30,011 $23,328 
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Revenue by Contract Type
Fixed-price$1,683 $4,463 $5,222 $6,151 
Cost-plus8,503 4,001 17,859 12,216 
Variable2,627 1,700 6,930 4,961 
Total revenue$12,813 $10,164 $30,011 $23,328 

Pursuant to the 2022 AMA, incentive compensation fees revenue ("Incentive Fees") may be earned on certain managed real estate assets if defined triggering events, which are differentiated based on the classification of the assets, are achieved. (See Note 14 for additional information)
Incentive Fees are calculated as a percentage of the imputed profit that would be realized upon the hypothetical sale or recapitalization of the asset (or assets) for which triggering event criteria were met. The calculation of imputed profit is based on a fair market value assessment that includes highly variable financial inputs and must also consider macro-economic and environmental factors that may affect fair market value. Due to the subjective and potentially volatile nature of this variable consideration, revenue is only recognized on Incentive Fees for each managed asset when 1) any material uncertainties associated with the calculation of Incentive Fees are substantially resolved and 2) it is probable that a significant reversal in the amount of related cumulative Incentive Fee revenue recognized will not occur. As a result, Incentive Fees are typically recognized at or near each asset's respective triggering event (as detailed in the 2022 AMA) when imputed profit can be reasonably calculated and relied upon to not materially change. For the three and nine months ended September 30, 2022, the Company recognized $3.9 million of Incentive Fees, stemming from an operating asset triggering event scheduled to occur on October 1, 2022. This operating asset triggering event is the first in series of annual operating asset triggering events that are scheduled each October 1 through 2024. All Incentive Fees recognized in the current period are related to services performed in prior periods for which revenue recognition criteria were previously constrained.